The Senate Committee on Finance has opened a fresh scrutiny of the Federal Government’s import duty waiver regime after the Nigeria Customs Service (NCS) disclosed that the value of Import Duty Exemption Certificates (IDECs) issued since March 2020 rose to about ₦34 trillion by 2025.
The committee also threatened sanctions against the heads of several Ministries, Departments and Agencies (MDAs), including the Nigerian Civil Aviation Authority (NCAA), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Industrial Training Fund (ITF) and the Federal Medical Centre (FMC), Jabi, for failing to appear before its investigative hearing on revenue remittances.
Appearing before the committee on Monday, Comptroller-General of Customs, Bashir Adewale Adeniyi, said the agency’s revenue performance had been significantly influenced by government fiscal policies, particularly import duty exemptions granted to strategic sectors.
He explained that about 60 per cent of the ₦34 trillion worth of duty waivers covered military hardware imported to strengthen Nigeria’s security architecture, while the remaining exemptions applied to imports of Compressed Natural Gas (CNG), electric and hybrid vehicles, medical equipment, industrial machinery, manufacturing inputs and food items under government intervention programmes.
Adeniyi maintained that duty waivers should not be assessed solely on the basis of revenue forgone, arguing that they were intended to promote broader economic and social objectives, including industrial growth, improved healthcare delivery and national security.
He, however, recommended stronger monitoring mechanisms to ensure beneficiaries of the incentives deliver the expected outcomes through increased production, lower prices and wider economic benefits.
The Customs boss also told lawmakers that the Service had generated about ₦4.5 trillion as of June 30, 2026, against an annual revenue target of ₦11.04 trillion.
However, the hearing exposed disagreements over Customs’ financial obligations after the Fiscal Responsibility Commission (FRC) alleged that the agency had an outstanding operating surplus liability of about ₦8.9 billion based on its 2019 audited accounts.
Customs officials rejected the claim, insisting that the figures required reconciliation.
The committee also turned its attention to the Corporate Affairs Commission (CAC) after the Fiscal Responsibility Commission alleged that the agency had failed to remit about ₦13.9 billion in operating surplus between 2023 and 2025.
Responding, the Registrar-General of the CAC, Hussaini Ishaq Magaji, acknowledged the outstanding liability but said the Commission had commenced gradual settlement of the amount.
To establish the actual figure, Chairman of the committee, Senator Sani Musa, directed the CAC, the Fiscal Responsibility Commission and the committee’s secretariat to reconcile their records and submit a comprehensive report within two weeks.
The committee also expressed displeasure over the absence of several invited agencies from the investigative hearing.
Senator Musa warned that the heads of the NCAA, SMEDAN, ITF, FMC Jabi and other defaulting agencies must appear at the next sitting or face sanctions under the Senate Standing Rules.
He stressed that agencies responsible for managing public resources have a constitutional obligation to account for revenues generated on behalf of the Federal Government and comply with legislative oversight.